Vancouver, B.C., September 25, 2013 - Columbus Gold Corp. (CGT: TSX-V) (“Columbus Gold”) is pleased to announce results of its 2013 drilling program at its Bolo gold project, located northeast of Tonopah, Nevada. Subject to underlying royalties, Bolo is 100% controlled by Columbus Gold.
The 2013 drilling program consisted of 11,400 feet (3,475 meters) in 19 RC drill holes and was designed to test additional targets and for expansion drilling in the area (known as the South Zone) around discovery drill hole BL-23, which cut 30 meters of 2.38 grams per tonne (“g/t”) gold in 2008 drilling.
The 2013 drilling in the South Zone at Bolo cut significant intercepts of good grade gold over considerable thicknesses. Drill holes BL-38, BL-39 and BL-41 were noteworthy. Drill hole BL-38 cut 133 meters from surface of 1.28 g/t, which included 30.5 meters of 3.24 g/t gold. BL-39 cut 41 meters of 2.05 g/t gold from surface. BL-41 cut 51.5 meters of 1.27 g/t gold from surface, which included 16.8 meters of 2.15 g/t gold.
All mineralization is logged as “oxidized” and is Carlin-type, associated with weak silicification and decalcification of Paleozoic sedimentary rocks. The gold mineralization at the South Zone at Bolo is more pipe-like in shape than anticipated. The pipe rakes steeply to the south and remains open at depth.
Significant silver was also cut in the drilling (up to 3 meters of 360.5 g/t within 28.8 meters of 57.6 g/t silver in drill hole BL-37) and will contribute value. All silver assays reported to date in Columbus Gold’s drilling at Bolo have been done using ICP analysis. Recent preliminary check samples using fire assay on silver indicate that the ICP technique appears to be understating the silver grade (8 check samples out of 10 showed 40-150% more silver using fire assay). All reported gold assays at Bolo are not in question as considerable check sampling shows gold values check well. Columbus Gold has commenced more comprehensive checks on all silver assays from the 2013 drilling, as well as past Bolo drilling by Columbus Gold, using the fire assay technique with a total of 260 samples with significant silver being checked.
A table of significant results from the 2013 drill campaign can be viewed at the following link:
Drill hole location maps are available at the following link:
Quality Assurance / Quality Control
Assaying on Bolo drill cuttings was performed by American Assay Labs in Sparks, Nevada. Quality control for the 2013 program was done by inserting blind standards of a known gold content in the drill samples (one standard out of every 20 drill samples). Standards assayed with acceptable limits. In addition American Assay inserts standards and blinds in the samples (around 7% of all analyses). Lastly Columbus Gold takes a separate sample at the drill of each five feet of drill cuttings. These samples are retained for check assaying. The check sampling of 150 of these separate samples is in progress as well as the fire assay checks for silver. These results will be reported when the work is completed. Andy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists and is the Qualified Person under NI 43-101 who has reviewed and approved the technical content of this project description. Mr. Wallace is the President of Columbus Gold and the principal of Cordilleran Exploration Company (Cordex), which is conducting exploration and project generation activities for Columbus Gold on an exclusive basis.
ON BEHALF OF THE BOARD,
Robert F. Giustra
Chairman & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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